The logistics industry is not immune to the economic crisis that has hit its supply chain.
For the first time in over a decade, a number of major logistics companies are now reporting lower-than-expected third-quarter profit.
That’s because demand for goods is still strong and there’s little room for a correction, according to data compiled by Bloomberg.
While some companies are shedding jobs as demand weakens, many are boosting profits by raising prices.
That could spell trouble for the logistics sector as it looks to stay afloat as a major player in a rapidly changing global economy.
Sign up to get CricInfo delivered to your inbox every weekday.
SIGN UP In a report released Monday, the United States and the European Union agreed to a $25 billion rescue package for Europe, which has been reeling from the financial crisis.
The U.S. and Europe are among the countries that have been hit hardest by the financial meltdown.
The deal includes $30 billion in loans and $25 million in emergency funds.
The European Union’s share of the bailout is expected to be more than 60 percent.
The $25.5 billion will be used to provide $7 billion in aid to the European logistics sector, the European Commission said.
But that’s not all.
The U.K. has agreed to help finance $2 billion in relief to the logistics economy.
A U.N. resolution on the issue called on the European countries to help each other as the continent struggles to keep up with demand and supply.
But while the United Kingdom has stepped up its assistance, the deal has left it out of the loop on the EU’s rescue package, a spokeswoman for the British government told Bloomberg News.
The United Kingdom’s involvement has been limited to a symbolic gesture in December. The U